Having your home sit idly on the market can be highly frustrating.
It becomes even more aggravating if it’s been stagnant in a seller’s market where the demand for homes outweighs the supply.
There are several reasons why your house may not be selling, and oftentimes the answers are quite simple.
Listed below are some of the common reasons your home is not budging and how to fix it.
The Selling Price Is Too High
If your house is not selling, the first thing you need to consider is its price. One of the common mistakes of home sellers is overpricing their homes.
While it is perfectly natural for you to want your property to sell for top dollar, doing so will only scare off quality buyers.
Keep in mind that once you list your house in the market with a staggering price tag, it will be harder for you to attract prospective buyers later on.
Even if you decide to lower the price after some time, potential buyers will only assume that your house is not a worthy investment.
It is also essential that you are certain of your property’s value in the current market so you can price it right.
One way to do this is by comparing your house with similar properties in your area.
Check out how much they sell for and analyze the marketability of your home against these competitors.
Not Preparing Your House for Sale
Another common reason why your house is not selling is poor staging and lack of preparation.
If you want your home to get reasonable offers and remove it from the market, you need to make it look as perfect as possible.
Take the time to carefully examine every part of your house, and ask the following questions:
- Does the house smell bad?
- Is your home too personalized?
- Is the furniture preventing potential buyers from looking around?
- Did you work on your home’s exteriors or curb appeal?
- Are the paint colors too strong?
If you are unable to pinpoint the problem and your budget permits, consider getting the help of a professional stager. With the help of these professionals, you can effectively highlight your property’s best assets and make them more appealing to buyers.
Neglecting Outside Help
If you want your house to sell fast, you need the help of professionals.
However, if your home is still not selling even with the help of a real estate agent, then you may want to consider getting a realtor NJ.
Make sure that you work with an experienced agent with a proven track record.
They should have a comprehensive list of clients and a vast and established network.
A proficient agent is also skilled in tempering his clients’ expectations, especially when it comes to setting a price for the house.
The Location of Your House Is Not Appealing to Buyers
In real estate transactions, location plays a significant part. While you can’t change the location of your house, there are certain things you and your agent can do to feature other aspects.
For instance, if your house is located in a busy neighborhood, your real estate agent can have viewers check your home during non-peak hours.
Doing so will allow potential buyers to fully concentrate on your property’s best features rather than its surroundings.
Another way to compensate for the poor location is by lowering your home’s price tag.
However, avoid dropping it too much just to entice your buyers. Remember that as long as your home is in pristine condition, it still has a lot to offer.
The Timing Is Wrong
Bear in mind that the housing market does not always favor sellers. Certain months are considered to be downtime or slow seasons in real estate.
Generally, a house will not have a lot of buyers during the winter months, while the demand is higher during summertime, early fall, and spring.
Remember that the best time to sell a house is when there is limited supply in the market.
On the other hand, if you need to sell your home right away and you listed it during the off-peak season, you may want to consider offering it as is, especially if you are selling a house with a mortgage.
Selling it for cash instead of going through the conventional selling process can save you a lot of time, and it will prevent your home from sitting on the market for too long.
Remember that there are several reasons why your house is not selling.
By knowing these common pitfalls and following the tips mentioned, you will be able to sell your home in no time.